LOL, looks like I took profit. Little early for the London BO. But that’s what I love about this pair. You can get breakouts anytime, even end of Asia!
I really do believe this pair has made the high of the week. Entered short on the first PB to the trend line. Stop above the high of the week. This is a 15 minute chart. I am trading 1/2 position so I have the option to scale in if needed. I fully intend on letting this run up until the close of NY on Friday.
Here are the 4 hour/ daily/ weekly charts for reference:
Still learning
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Me too! I learned this week that a bear flag can go a lot longer than you want. I also remembered that not everything is horizontal. I was so keyed in on horizontal levels this week, I lost sight of my trend lines and channels. Oh well, live and learn and re-learn and re-learn. 
This trade is going along nicely (about 60 pips profit so far). This is the 5 minute chart, so it appears to be more dramatic than what it really is. I missed a 20-pip scale in opportunity. In my defense, I was asleep at the time it pulled back.
If you are going to jump on board, now might be a good time to do it. Since it’s at support, you may want to wait for another pullback (my disclaimer for the day).
Placed limit order to scale in at 50% retracement. This is a 35% order ( in other words, 35% of a normal position size). This is the 1-hour chart.
My scale-in limit order just triggered. Combined, these two trades represent the maximum risk I usually have on any one trade, so the position sizes are very small.
Took both trades off for nice little profit. Obviously range bound. May wait for PB to scalp again, or wait for the BO. Euro news in a few hours. Could get very volatile.
Thanks for sharing! 
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Hey, what’s up. How’s my favorite human feline!
Hahahaha… thanks. you fill my meowmeow with joy. 
I am good. Trying to insert study time and hopefully trading time with my work (Imma bad cat foww tryin to trade at work. meowhahaha)
EUR/NZD is your favorite pair? How do you integrate ATR in your setup? As a gauge for your stops and limits?
Bad kitty for trading at work. If I were your boss, I would take away your computer!
Yes. The reason i trade almost exclusively the EUR/NZD is the movement is double what other pairs offer. For example, it has a daily ATR of over 100, whereas the EUR/USD is usually under 50! It’s volatile, but it does move well, if you know how to get out when it throws a tantrum.
No. i just use it to gauge the movement of the last five bars. I want to know if it has slowed down considerably, or if it is taking off rapidly. Usually, the average of the last five bars will tell me what I need to know.
My stop loss and take profits are set strictly where the nearest major support and resistance zones are. If I only get a scalp profit, that’s okay. If there is room for a swing, even better.
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Noooooooo!
Wow that is nice to know. My mentor CP did not include EUR/NZD on his preferred pairs but now that you mention it, I will include it on the pairs I scan. Thanks!
Thanks for sharing. 
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And just like that, i decided to get out. Stopped moving.
Going flat for 6 hours until ECB rate decision. Night Night.
Ah the market doesn’t have to do what you think or analyse…I learnt that
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Yeah. It’s kimda like working with the boss’s wife. She can be a brutal lady sometimes.
Case in point: Here we have ECB rate decision. Apparently it was not a good one. This is precisely why we want to stay out during news events.
This could be the boundaries of a new range-bound market. Taking a wait and see approach. My powder is definitely dry.
